You should be able to really get rocking on all this quickly The big thing is if you are going to buy multi family (5+ units) you will need 20% down. 

I'm happy to see anyone invest in something that doesn't drop 'like a rock' in their driveway or just become a bathroom visit.The securities market doesn't just sap wealth.

Demo some wall tile and new sheet rock.

Demo some wall tile and new sheet rock.

My family has a history of depression and for everyone that says "you have to let them hit rock bottom" before you can help, hasn't lost family to suicide... pretty hard to help when that is the result of rock bottom. 

Due to high taxes and insurance costs I would suggest you look elsewhere in TN (Memphis) or AR (Little Rock), both aren’t to far from you and will be cheaper and offer better returns.

I was pretty sure it wasn't a buyers market there yet so figured it was just a frustrated buyer wanting the band aid torn off quickly!!! 

If you are using an agent to find a $50,000 house, then it likely will be in more of a C neighborhood than a B and rent should be in the $600-$700 range.

The appreciation on these properties rocks, and maybe that's worth more than the horrid cash flow?

After listening to the Rock Thomas podcast and getting back to mindset it dawned on me that my sphere of influence isn't the best.